Right. The only thing that will "bring back" is some of the Mexican illegal immigrants who left during the recession.

On the contrary, it will drive those few low-skill manufacturers who aren't off-shoring away, and it will drive some people (growers of fruits and vegetables which must be hand-picked, for example) out of business._________________Deja Moo: the feeling that you've heard this bull before

Obama. It was on the local news last night when I posted, but I think I must've misheard.

It looked like the speech he gave yesterday at the company (Virginia, Carlina? I forget where). But I listened to that speech, and it didn't include anything like what I thought I'd heard.

Oddly enough, it did include a comment he made about lowering corporate taxes being a Good Thing (rewarding companies hiring in the US rather than rewarding them for outsourcing / offshoring)._________________lolgov. 'cause where we're going, you don't have civil liberties.

overwhelmingly, people in the other toll road thread admitted that if you raise the cost of something, they do it less. if things are cheaper, people tend to do it more... that's why we have a huge system of tax deductions.

during the recession, many states started "back-to-work" programs where the state would pay a substantial portion of an employee's wages if that person had been previously unemployed for 6+ months or so. if krugman is correct, then all of these states are completely wrong... every single one of these states, which effectively cut their minimum wage in half, apparently don't understand krugman's fairy tale economics.

if fairy tale economics are true, then the tax system is a total sham. why do we have a solar deductions if that doesn't incentivize anyone to do anything about it? why do we have a marriage deduction? why do we have charitable deductions? why do we have increased taxes on bad things like cigarettes, and tobacco, and processed food? in fairy tale economics, none of these incentive systems matter. so why do we have them at all? why do we even need the IRS then?

Among all of the absurdity in the article, he's at least not claiming higher labor costs will bring back jobs.

But, wow, for a supposedly educated economist, he likes to perpetuate lies (or at least misrepresent facts). For example, higher productivity is not a measure of minimum wage worker performance._________________lolgov. 'cause where we're going, you don't have civil liberties.

overwhelmingly, people in the other toll road thread admitted that if you raise the cost of something, they do it less. if things are cheaper, people tend to do it more... that's why we have a huge system of tax deductions.

during the recession, many states started "back-to-work" programs where the state would pay a substantial portion of an employee's wages if that person had been previously unemployed for 6+ months or so. if krugman is correct, then all of these states are completely wrong... every single one of these states, which effectively cut their minimum wage in half, apparently don't understand krugman's fairy tale economics.

if fairy tale economics are true, then the tax system is a total sham. why do we have a solar deductions if that doesn't incentivize anyone to do anything about it? why do we have a marriage deduction? why do we have charitable deductions? why do we have increased taxes on bad things like cigarettes, and tobacco, and processed food? in fairy tale economics, none of these incentive systems matter. so why do we have them at all? why do we even need the IRS then?

What specifically do you object to?

He rebuts your first paragraph in that labour and commodities are different because of "human factors". As many right wingers say, employers aren't monsters. Generally they will try and get more money, but if the loss is marginal (say a modest increase in minimum wage), an employer may simply suck it up or pass it on to the customer just to save a job. Unlike copper or gold, if the price shoots up, I just won't buy it. However, no one is at a competitive disadvantage here since the minimum wage is uniformly applied.

Krugman hasn't been right about anything this millennium, seems unable to adapt, and has gone moonbat since seeing his Keynsian world go up in flames. Krugma. Would have us become a giant Greece, leading the world into a new Dark Age._________________Deja Moo: the feeling that you've heard this bull before

Krugman hasn't been right about anything this millennium, seems unable to adapt, and has gone moonbat since seeing his Keynsian world go up in flames. Krugma. Would have us become a giant Greece, leading the world into a new Dark Age.

taking your statement literally, one finds it is false. In fact, he predicted the housing bubble before it happened in 2005.

Krugman hasn't been right about anything this millennium, seems unable to adapt, and has gone moonbat since seeing his Keynsian world go up in flames. Krugma. Would have us become a giant Greece, leading the world into a new Dark Age.

taking your statement literally, one finds it is false. In fact, he predicted the housing bubble before it happened in 2005.

Is that what we had? A "downturn"? If the weather man predicted a warm front and low pressure cell, and you had a the worst hurricane of the century, would say he was "right"?_________________Deja Moo: the feeling that you've heard this bull before

Krugman hasn't been right about anything this millennium, seems unable to adapt, and has gone moonbat since seeing his Keynsian world go up in flames. Krugma. Would have us become a giant Greece, leading the world into a new Dark Age.

taking your statement literally, one finds it is false. In fact, he predicted the housing bubble before it happened in 2005.

One of the most fascinating things about capitalism - the rampant, untamed, libertarian kind - is how little its most fervent cheerleaders understand about how capitalism works. Occasional bouts of socialism are essential to its proper function because these provide vital corrective inputs which cannot be initiated by market forces in their purest form.

If you doubt that ask yourself this: if workers can't afford to buy market goods, what happens to the markets..?

Thousands of people were saying such things, and the devastation wrought by our ill-conceived housing policies so far exceeded that caused by Bill Clinton's stock market bubble that comparing the two is indeed like comparing a routine weather front to a "storm of the century" hurricane. No, this is not evidence he "got something right"; it's evidence that he didn't have any idea of the magnitude or real nature of the problem._________________Deja Moo: the feeling that you've heard this bull before

For about four decades, increases in the minimum wage have consistently fallen behind inflation, so that in real terms the minimum wage is substantially lower than it was in the 1960s. Meanwhile, worker productivity has doubled. Isn’t it time for a raise?

One of the most fascinating things about capitalism - the rampant, untamed, libertarian kind - is how little its most fervent cheerleaders understand about how capitalism works. Occasional bouts of socialism are essential to its proper function because these provide vital corrective inputs which cannot be initiated by market forces in their purest form.

If you doubt that ask yourself this: if workers can't afford to buy market goods, what happens to the markets..?

Just step outside. You'll see.

I agree that capitalism must be somewhat attenuated by socialist reforms in a several areas. However, your last sentence implies current economic problems are the result of unfettered capitalism, when in truth they're far more the unintended consequences of government meddling in markets (e.g., housing) and excessive government borrowing to enable enable socio-politically indulgent over-spending._________________Deja Moo: the feeling that you've heard this bull before

Are the destitute, homeless and the poorest of the poor by definition excluded from being referred to as "US consumers?" I'm not sure I understand your request, so I'm trying to clarify._________________lolgov. 'cause where we're going, you don't have civil liberties.